de Sa Paul 4

What Happened Paul de Sa, a director of Cogent Communications Holdings, Inc. (CCOI), was granted 3,445 shares on 2026-03-31 as a quarterly director payment. The shares were issued at $0.00 cash price (reported as an award/acquisition), and the filing lists the shares as owned directly by Mr. de Sa. This transaction is a compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date and terms: 2026-03-31 — 3,445 shares awarded at $0.00 per share (transaction code A: award/grant).
• Shares owned after transaction: the Form 4 does not disclose a total post-transaction holding; the filing notes all reported shares are owned directly by Mr. de Sa.
• Footnote: the shares reflect the quarterly director payment for Q1 2026 and are owned directly by the director.
• Filing timeliness: Form 4 filed 2026-03-31 (same date as the transaction); no late filing indicated in the report.
• No 10b5-1 plan, tax-withholding sale, or cashless exercise was reported.

Context Director stock awards are routine compensation for board service and should be viewed as pay rather than a direct buy/sell signal about the company’s near-term prospects. Because the award was issued at no cash cost, the Form 4 does not list a market value for the transaction — retail investors looking for dollar value should check the company’s disclosures or market price around the grant date.